Studying the Greeks

What a difference a stimulus makes. As we entered this global recession/credit crisis a few years ago, governments around the world came up with plans to support their banking systems and stimulate growth in their respective economies. The amount of money each country spent was different; the goal was ostensibly the same — stability and eventually, resumed growth. We are now seeing the results of spending without fiscal context in Greece and a few other EU countries. While the differences probably outnumber the similarities between Greece and the U.S., we still need to take heed.

What a difference a stimulus makes. As we entered this global recession/credit crisis a few years ago, governments around the world came up with plans to support their banking systems and stimulate growth in their respective economies. The amount of money each country spent was different; the goal was ostensibly the same — stability and eventually, resumed growth. We are now seeing the results of spending without fiscal context in Greece and a few other EU countries. While the differences probably outnumber the similarities between Greece and the U.S., we still need to take heed.